Analysts at Danske Bank explain that after the UK parliament in yesterday’s vote also rejected leaving the EU without a deal, the third and final vote today will show whether the House of Commons can instead converge to agree on asking for an extension of Article 50 and will be a key event for markets today.
Key Quotes
“Even if the vote eventually passes, the question remains whether the EU27 leaders will grant an extension and whether it will be a short or long one. According to people familiar with the PM, May said that she will be looking for a two-month extension. Initial comments from the EU’s chief negotiator, Barnier, does not seem promising in postponing Brexit.”
“In the US, we get January new home sales numbers and we will continue to keep an eye on the housing market, since it has begun to show weakness. Higher mortgage rates are probably the driver of this weakening.”
“In Europe, it is relatively quiet on the data front with final February inflation figures from Germany and France.”
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